The Bank of Canada has published its Financial System Review (FSR) for 2020. The FSR focuses exclusively on COVID-19 impact on the Canadian financial system. It details the results
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Botswana: Guidance on the regulatory treatment of IFRS 9 in the context of COVID-19
The Bank of Botswana has released two circulars to address IFRS 9 requirements during the COVID-19 pandemic. The first circular is on Guidance on the Regulatory Treatment of IFRS -
United States: Use of alternative data in credit underwriting
Four U.S. federal regulatory agencies have issued the “Interagency Statement on the Use of Alternative Data in Credit Underwriting.” Developed in response to a U.S. Government Accountability Office recommendation, -
Central Bank of Kenya publishes Credit Reference Bureau Regulations
The Central Bank of Kenya (CBK) has published the Credit Reference Bureau Regulations, 2020 (CRB Regulations). Replacing the Credit Reference Bureau Regulations, 2013, the CRB Regulations authorize the CBK -
US: Federal agencies propose rule to amend the swap margin rule
US federal agencies have proposed to change the swap margin rules to facilitate the implementation of prudent risk management strategies at certain banks and swap entities. The swap margin rule
July 21, 2019
Banks and Financial Institutions Regulation
A snapshot of recent regulatory developments in the banking space is set out below. 1. CANADA: Department of Finance: Consultations on the Review of the Canadian Payments Act Last Friday, the Department of Finance (DoF) launched consultations to seek views on whether 2015 governance changes have been Europe, North America, Oceania & Antarctica
July 21, 2019
Banks and Financial Institutions Regulation
A snapshot of regulatory interventions in the banking space from around the world. 1. CANADA: Financial Transactions and Reports Analysis Centre of Canada: FAQs on Politically Exposed Persons in Canada and Heads of International Organizations The Financial Transactions and Reports Analysis Centre of Canada issued FAQs on Africa, Europe, North America
July 21, 2019
US Justice Department Moves Against Piling On
The US Justice Department (Department) this week announced a policy against piling on – repeated punishments by multiple enforcement authorities for the same misconduct that may exceed what is necessary to rectify the harm and deter future violations. The new policy encourages Department components to coordinate with one another Other
July 21, 2019
Banking Regulation & Developments: The Week of April 30, 2018
This review highlights regulatory interventions by supervisory authorities from around the world. 1) UNITED STATES The Office of the Comptroller of the Currency – Appraisal Threshold for Commercial Real Estate Transactions The Office of the Comptroller of the Currency, the Federal Reserve System and the Federal Deposit Insurance Asia & South America, Europe, North America
July 21, 2019
Banking Regulation: The Week of April 23, 2018
This review highlights regulatory interventions by supervisory authorities from around the world. 1. UNITED STATES: i) The Bureau of Consumer Financial Protection – ‘Know Before You Owe’ Mortgage Disclosure Rule The Bureau of Consumer Financial Protection finalized amendment to its “Know Before You Owe” Mortgage Disclosure Rule. Africa, Asia & South America, Europe, North America, Oceania & Antarctica